A former business relationship manager of the $1 billion Scott Credit Union in Edwardsville, Ill, will be arraigned in U.S. District Court Dec. 4 to face nine felony charges of fraud, misapplication of funds and money laundering involving millions of dollars.
Theodore J. Longust, 50, formerly of Columbia, Ill., was indicted Wednesday by a federal grand jury.
The indictment alleged Longust submitted a false report that mis-stated loan balances and omitted loan amounts and underreported loans of more than $12 million. Longust submitted the report to Scott Credit Union President/CEO Frank A. Padak and Chief Lending Officer Craig Burkhard last year, according to the indictment.
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